Technological Entry, Redeployability, and Firm Value
研究了企业技术进入新领域如何通过揭示资源的新用途和重新部署选项来提升企业价值，基于美国企业面板数据提出并检验了五个假设。
Abstract We provide a framework that enriches our understanding of resource redeployability, i.e., the value‐generating option to withdraw resources from one use and reallocate them to another use. Existing works largely assume that the new uses of a resource are known ex ante and easily identifiable by managers. However, several cases from different industries suggest that new uses often emerge while a firm’s technology base radiates into new domains. We analyse how a firm’s technology base, by radiating into new domains that potentially reveal new uses and resource redeployment options, can spur firm value. We develop five hypotheses on the relationship between technological entry into new domains and firm value, and test them using a novel patent‐based measure in a panel of US firms.